Tranquility Partners LLC Sells 798 Shares of Illumina, Inc. (NASDAQ:ILMN)

Tranquility Partners LLC cut its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 31.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,761 shares of the life sciences company’s stock after selling 798 shares during the period. Tranquility Partners LLC’s holdings in Illumina were worth $230,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in shares of Illumina by 292.9% in the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after buying an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Illumina in the second quarter worth $34,000. Massmutual Trust Co. FSB ADV grew its stake in Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Illumina during the 2nd quarter valued at $61,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Illumina during the 2nd quarter worth $63,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ILMN. JPMorgan Chase & Co. boosted their target price on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Thursday, October 17th. Daiwa Capital Markets upgraded shares of Illumina from a “neutral” rating to a “buy” rating and increased their target price for the stock from $120.00 to $154.00 in a research report on Friday, August 16th. Royal Bank of Canada lifted their target price on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, StockNews.com assumed coverage on shares of Illumina in a research note on Thursday, August 29th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.00.

Illumina Stock Performance

Illumina stock opened at $135.00 on Wednesday. Illumina, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $156.66. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The stock has a market cap of $21.41 billion, a P/E ratio of -13.55 and a beta of 1.13. The firm’s fifty day moving average price is $140.04 and its 200-day moving average price is $124.47.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities research analysts expect that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

About Illumina

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.